Member Info for Ridgeld

Me too, 12.4903p for 80062 shares to be precise!

The generator chat is about La India, speculating about what to do if the government don't get their part of the power to the new substation in time.

Even in the most disastrous of hypothetical situations it would only mean a bit of a delay. The gold isn’t going anywhere. Why spend a load of cash on getting it out a couple of weeks sooner. DBs comments on not using generators make compete sense to anyone with a modicum of patience.

Everyone just needs to relax a little bit. We have very little new information really and it’s just a waiting game now. Descending into petty squabbles because there’s nothing better to talk about helps nobody. We all know the fundamentals. We’re all frustrated with the share price not reflecting that. But everyone (frequent posters) is on the same side here. Sometimes there’s just nothing to talk about.

Key takeaways from one viewing:

- Dividends and main market listing scheduled for 2028.

- "very close" on securing the next mine, sounds like it will be in the Asia Pacific region. Designs for moving the Runruno plant in progress.

- LA India first pour in December, not worried about power supply, Iran / Trump main concern for delivery.

- Concern over shipping of (some machine) due to Panama Canal backlogs.

Pretty sure the risk profile / gold price was assessed somewhere in the low 3000's if not even high 2000's. And any delay due to rain is pretty much irrelevant, if we take the last bits of gold out of Runruno now or 3 months later doesn't make any difference whatsoever.

The immediate risks are the US doing more crazy stuff and the incompetence of the Nicaraguan equivalent of the national grid. But the gold ain't going nowhere and we have the right to mine it for the next quarter of a century so it's a mater of when not if.

Wouldn't be at all surprised if this ends up blue by the end of the day. The one line summary is essentially "La India is massive, on track and fully funded by the declining Runruno."

The visit was planned to show potential institutional investors progress at La India, very unlikely to have anything to do with acquisitions in my opinion. DB has consistently said the Philippines is a part of the long term future of Metals so I doubt he will abandon ship so quickly. Plus there's Abara so it's not like we dont have ongoing interests beyond Runruno there.

Just another warrant issue. Nothing exciting unfortunately.

The more I look into it the less likely it appears, perhaps a joint venture of some sort may be possible though.

Have you had a look at KingKing owned by St. Augustine Gold and Copper Limited. Big Porphyry Copper-Gold Deposit. Won't be a cheap acquisition though.

He also says that they will be moving the employees from Runruno to a new site in the Philippines, so it sounds like there could be something pretty well advanced in the pipeline.

No problem. Another thing to bear in mind is that the entire plant will need commissioning prior to any production. Not sure how long that will take but I would assume at least a month. That will almost certainly need to be done after the substation is installed. Do we have a date that that is supposed to happen by? I know it's something that is out of the companies hands to a certain extent.

I'm an architect by profession. The way we normally measure programme is critical path completion in terms of weeks. In all construction projects there is a sequence of things that need to be done in a certain order to unlock the next thing in that sequence and a mine is no different, it can get surprisingly complex. A very basic example is you can't lay a slab until the groundworks is done and so on and so forth. There are lots of items that aren't on the critical path that don't really affect timescales if they are delayed or ahead of schedule. Another slightly more crude ways of measuring progress is the amount of money spent compared to the total budget. From memory the first spade went in the ground in May 2025 (correct me if I'm wrong) so that's about 40 weeks ago. By my maths we should therefore be complete at the end of November giving us one month of production in Q4 this year.

We all know the main risk to the critical path to production here is the electrical supply, that shouldn't effect the construction critical path though.

Highly doubt it. You can tell from his demeanour that he loves mining. Either that or he's a very good actor. He also owns roughly 7% of the company.

Thanks CfC, that's great news! Always found it frustrating that one of the fastest growing platforms didn't have us available. I only use 212 for a bit of trading (gambling) with some fun money to be honest but many people use it as their only account.

I'm with Charles Stanley Direct, cant really fault them. T212 dont even let you buy MTL shares!

People are impatient and get bogged down in the day to day. Price rises get taken as money in the bank and drops are seen as unjust or manipulation. If you’re in for the long term looking at prices daily is a bad habit we’re all guilty of. We are very clearly heading in the right direction. La India coming online is just a matter of time. Anything else is a bonus. 15p seams to be the new floor. Sit back and enjoy the ride. We’re all going to be coming out richer.

Thanks CFC. Pretty unlikely that those three ore bodies are permitted and ready to build out in line with the plans. Unless they were abandoned fairly late in their previous developments because of the BIOX process requirement I guess.

It wouldn’t have been great, but we would have a lot of cash in the bank to move Runruno. We’re building La India without debt so we could have done it elsewhere too. All irrelevant anyway because we do have La India and it will be operational and throwing off buckets of Cash this time next year.

Few little interesting points that I picked up on that haven’t been mentioned here yet.

23 analysts visiting La India in March. Could be a big bump in institutions getting involved, perhaps those 300 million shares are going to be on the table? That represents about 9% of the current total shares.

Runruno being moved. It’s a BIOX plant, we’re one of only a few companies in the world that know how to do that well right? Someone who knows more about the process than me can explain if I have that wrong but surely that means that there should be a lot less competition for assess that need that sort of process. I know the plan for Dupax was to get rid of the BIOX so may be entirely wide of the mark there.